Feds cut rates to nearly 0% - good time to refinance again?

[Justin Bautista]

Hi there, I refinanced last October to 3.25% but now the feds are cutting the rates to nearly 0%, do you think it’s a good idea to refinance again? Thanks for your help!

[Scott Trench]

I agree with @Alan Dickson - there is already a refinancing boom, and the Fed lowering rates again today will only accelerate it and extend it. This is obvious - there's only an advantage to be had in refinancing for any homeowner or landlord.

I was going to wait a few more weeks personally, a move that I think is validated (accidentally from a market perspective and government action I certainly did not predict) by the Fed lowering rates.

For now, I'll continue to be patient and get ready to refinance when demand settles down again. A good time to complete your tax return and other documentation your lender will ultimately ask for.